ALL The Report That's Fit To Pring
MADISON, Wis.--The Filene Research Institute has issued a new report, "The Allowance for Loan Losses: Critical Issues for Credit Union Leaders," which seeks to help "chart a course for credit unions to calculate their particular allowance." The report was authored by Michael Sacher, and "unpacks the various accounting standards at play and matches them with the expectations of CFOs and credit union examiners alike," Filene reported.
The tactical report is broken into four parts: An introduction to the current ALL trends; an examination of the relevant accounting standards and interpretations, including CU-specific guidance; a model ALL approach for CUs with specific guidance and suggestions for qualitative and environmental (Q&E) factors, and common ALL mistakes.
For info: www.filene.org.
Black Hills Expands Its Charter
RAPID CITY, SD - Black Hills FCU has expanded its charter to serve the counties of Butte, Haakon, Stanley and Hughes, bringing to nine the counties it serves.
3 People Re-Elected To CUES Board
MADISON, Wis.-Three people have been re-elected to three-year terms on the CUES board: Gerrianne "Winky" Burks, CEO of Northwest FCU; Shelley Clarke, CEO of Goldenwest CU, and Dale F. Schumacher, CEO of Tampa Bay FCU.
More Credit Unions In Mergers
LONGMONT, Calif.-The $875-million Elevations CU is absorbing via merger the $80-million St. Vrain Valley CU, pending a vote by the latter's members. Meanwhile, in Center Line Michigan, the $7-million Father Kramer CU has agreed to merge into the $1.6-billion Lake Trust CU.
Online Forum, LINX, Is Introduced COLUMBIA, Md.--The Credit Union Foundation of Maryland & DC has developed and launched a free online forum called "LINX," which is aimed at creating an idea and documentation exchange among credit union staff, volunteers, roundtables, and vendors. "Unlike some listserv systems where users are subjected to multiple emails, LINX users access the free service and choose only those posts they want to receive updated information on," the Foundation said. LINX topics include compliance, credit and collections, finance/investments, fraud & security, governance, training, marketing, lending, small credit unions, financial literacy, and more.
In Texas, Plank You Very Much
DALLAS-Thirty-three Employees at Texas Trust CU have formed their own "planking team." Planking is the art of lying face down, perfectly stiff, on various structures in public. One of the plankers includes CEO Jim Minge. A video of the plankers in "action" can be found at www.youtube.com/watch?v=-8lFCTVe9po.
New Board Gets Stamp of Approval
DEL MAR, Calif.-The National Council of Postal CU has announced it new board and officers: Chairman, John King, CEO of Eagle One FCU; Vice Chair, Kevin Yaeger, CEO of Post Office CU; Treasurer, Sidney Parfait, CEO Post Office ECU, and Secretary, Rebecca Cuddy, CEO of NAPUS FCU. Other board members include Neil Crean of Massachusetts ECU; Don DeCinque of Atlanta Postal CU; Hugh Livingston, Jr. of Carolina Postal CU; Vladimir Stark, CEO of Plus4 CU, and Will Yarborough of U.S. Postal Service FCU.
30 Peoople In Illinois Now CCUFC's
NAPERVILE, Ill.-- Nearly 30 individuals from 14 Illinois credit unions are on their way to "graduating" as Certified CU Financial Counselors (CCUFC) of the REAL Solutions Enhanced Financial Counseling Certification Program (FiCEP), according to the Illinois league. The participants were brought together as part of a coordinated effort to bring the training to all Illinois CUs.
MCCU To Use Funds To Help Elderly
COMPTON, Calif.--Mid Cities CU has received a $30,000 grant from the Economic Security for Low Income Aging through the National Council on Aging (NCOA). CEO Melia Keller said the funds will be used to assist the 26% of membership over age 65, with another 8% of members turning 65 in the next five years.
Hirabayaski Named An 'Ultimate CEO'
JACKSONVILLE, Fla.--John Hirabayashi, CEO of Community First CU of Florida, is one of 13 peopl chosen as a 2011 Ultimate CEO by The Jacksonville Business Journal. The awards recognize innovative leadership, including the CU's deployment of technology.
Schumacher Announces Retirement
EVERETT, Wash.-MountainCrest CU said that its president/CEO, Bob Schumacher, will retire effective Jan. 15, 2012. Schumacher has been active in credit unions in a variety of roles for 34 years and is well-known as the emcee of the annual Herb Wegner Awards.
Bank On DBQ Joint Effort In Dubuque
DUBUQUE, Iowa--A coalition of banks, credit unions and community groups here have organized to form "Bank On Dubuque" (Bank On DBQ), which will offer low- and moderate-income residents free or low-cost checking accounts and access to free financial education. The "Bank On DBQ" accounts require no minimum balance and offer a second chance for people who have had previous trouble with banking. The program is part of its larger, national "Bank On Cities Campaign."
